Home Loan and Mortgage Solutions for All Credit Situations

How It Works

There are several steps required to complete the home purchase process with HomeLayaway.com. Here is an overview of our home purchase process and the steps you must follow.

Home Purchase Process at HomeLayaway.com

1. Complete Pre-Approval Form and pay the non-refundable initial processing fee of $20 (Located At The Bottom of This Page).

2. Once your Pre-Approval Form is reviewed and given a preliminary approval we will contact you with a home purchase pre-approval price limit. This will include the following items:

A. Preapproval price limit (you must select a home below this purchase limit)

B. Required down payment (you must have a down payment equal to or greater than this amount before your home purchase can be completed)

C. Explanation of all required fees (all fees are in addition to your down payment)

D. List of homes we have available in your preferred locations (we will locate additional homes as you work through the process)

If you do not have the required down payment immediately you will be expected to complete an additional Home Savings Plan Agreement which requires you to save a set monthly amount in a savings or checking account that you establish. This savings amount will be used for your down payment. Your checking/savings account is owned and controlled by you. You must provide monthly proof to us that you have made your home savings plan contribution (you can provide a bank statement with your account number blocked out by email, fax or US Mail).

3. Sign and return your HomeLayaway.com Home Purchase Plan Agreement and Home Savings Plan Agreement (if required). These customized agreements explain all of the steps we have included here, all fees, your pre approval amount, your preferred location and your monthly home savings plan requirements.

4. Submit your non-refundable initial monthly program fee. The monthly program fee is usually $45 and the application processing fee is $20. These must be paid before your home purchase can begin.

5. Continue to pay your monthly program fee every 30 days as stipulated in your Home Purchase Agreement and Home Savings Plan Agreement. Failure to pay the monthly program fee will result in cancellation of your home purchase agreement and forfeiture of all monies paid to that point.

Once all of the above steps have been completed and you have built up the required down payment our home specialists will work with you to identify and locate homes that are in your price range and available. We will work with you to arrange showings of any homes you are interested in. Once you select a home our team will arrange to finalize the purchase and you will be given a closing and move-in date. Additional purchase and financing agreements will be provided to you before the closing date. You must sign and return all additional home purchase and financing paperwork before you can move in to your new home.

At the closing you will be required to remit the full down payment amount in certified funds or by wire transfer. You will also be required to provide proof of insurance and your first month’s payment. Payments will continue to be due every 30 days until your home purchase has been completed. The exact monthly payment amount and term of your financing agreement will be outlined in your purchase paperwork.

Our goal is to provide you with home loan alternatives that will work with your credit situation. Get started by completing the pre-approval form below: